GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.18% against the USD and closed at 1.6204.
In the Asian session, at GMT0400, the pair is trading at 1.6214, with the GBP trading marginally higher from yesterday’s close.
The pair is expected to find support at 1.6178, and a fall through could take it to the next support level of 1.6141. The pair is expected to find its first resistance at 1.6234, and a rise through could take it to the next resistance level of 1.6254.
Amidst a string of releases scheduled to be released later today, investors keenly eye the consumer price index (CPI), producer price index, retail price index data and the BOE inflation letter.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
